Businessman Carlos Slim, from Mexico, smiles during a press conference in Mexico City

Businessman Carlos Slim, from Mexico, smiles during a press conference in Mexico City, Monday, Jan. 31, 2011. (AP Photo/Eduardo Verdugo)

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Forbes tally grows to 1,226 billionaires globally

Average worth of a list member is $3.7 billion

Updated: Thursday, 08 Mar 2012, 8:52 AM EST
Published : Thursday, 08 Mar 2012, 6:29 AM EST

NEW YORK (AP) — One made the list on the strength of girdle sales, another powered by electric sports cars. Still others lost billions or fell off the list altogether thanks to the weak global economy and the gyrations of financial markets.

Click the video player included with this report to watch an interview with Steve Forbes, Editor-in-Chief of Forbes magazine.

Forbes magazine released its annual tally of billionaires on Wednesday, reporting that a record 1,226 people around the globe have a net worth in the ten digits. That's up 1 percent from last year's total.

But it wasn't an easy year for the superrich — about 441 list members lost wealth during the year, nearly equal to the 461 who expanded their fortunes. And only a fraction, 180, held steady, according to the magazine.

The group's total combined net worth is up 2 percent at $4.6 trillion. The average worth of a list member is $3.7 billion.

—FAMILIAR FACES: The top of the list contains many of the same names from recent years.

Carlos Slim of Mexico remained the world's richest man for the third year in a row with a $69 billion fortune, down $5 billion from last year. Forbes attributed the drop in Slim's fortune to the decline in share prices for regional cell phone carrier America Movil, his largest holding.

Bill Gates of Microsoft Corp. came in second at $61 billion, up $5 billion as his company's shares hit a ten-year high. And Warren Buffet of Berkshire Hathaway came in at third place with a $44 billion fortune, down $6 billion from the prior year.

—NEW NAMES: There were a number of interesting new faces on the list as well.

Elon Musk, co-founder of PayPal and founder of Tesla Motors, joined the list as the world's 634th richest person as the value of stock in his electric car company rose. The widow of Apple's Steve Jobs, Laurene Powell Jobs, took his spot on the list. But one of the most interesting additions was Sara Blakely, the founder of women's slimming undergarments company Spanx Inc., who joined the list this year. At age 41, Blakely is the world's youngest self-made female billionaire.

—BIGGEST LOSERS: It wasn't the worst year on record but a few folks on the list lost a pretty penny. Losses ranged from $100 million to $10.4 billion, according to the magazine. And of the 441 people who lost money, at least 81 people lost more than $1 billion.

The biggest loser was Lakshmi Mittal of India, owner of the world's biggest steel company. His net worth dropped $10.4 billion, leaving him with $20.7 billion. He's still one of the richest men in Asia but his company struggled with low demand and high costs. Other losers include Olega Deripaska of Russia, whose net worth is roughly half what it was last year as lower prices for aluminum and slowing demand hurt the stock price of his company, United Co.

—GLOBAL SCOPE: The U.S. is still home to the most billionaires in the world with 425. But there are now billionaires from 58 countries from Peru to Morocco. Russia and China follow the U.S. but have fewer billionaires this year at 95 and 96 respectively, down from 115 and 101 who made the list last year.

Forbes magazine's top 10 billionaires

  1. Carlos Slim: $69 billion, telecommunications
  2. Bill Gates: $61 billion, Microsoft Corp.
  3. Warren Buffett: $44 billion, Berkshire Hathaway Inc.
  4. Bernard Arnault: $41 billion, LVMH Moet Hennessy
  5. Armancio Ortega $37.5 billion, Zara International
  6. Larry Ellison $36 billion, Oracle Corp.
  7. Eike Batista $30 billion, mining and oil industries
  8. Stefan Persson $26 billion, clothing chain H&M
  9. Li Ka-shing $25.5 billion, diversified industries
  10. Karl Albrecht $25.4 billion, discount supermarket chain Aldi Group

Newbies to Forbes billionaire list

  • Sara Blakely, 41, creator of the popular slimming undergarment Spanx who is worth $1 billion.
  • Elon Musk, 40, co-founder of Paypal and electric car company Tesla who is worth $2 billion.
  • Paul Singer, 67, hedge fund manager and founder of AUM Elliott Management, which specializes in distressed debt investments; worth $1 billion.
  • Kevin Plank, 39, founder of athletic shoe and clothing company Under Armour Inc. and worth $1.1 billion.
  • Shahid Khan, 62, who made his fortune in auto parts and bought the Jacksonville Jaguars to become the NFL's first minority immigrant team owner. Khan is worth an estimated $2.5 billion.
  • Laurene Powell Jobs, 48, who inherited her husband Steve Job's fortune, which is largely in living trusts. She is worth an estimated $9 billion.

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